Property prices in the Pilbara town of Karratha have halved to their lowest level in 11 years as the mining town suffers a double blow from falling iron ore and oil prices. Desperate sellers are slashing asking prices by more than $100,000 and some homeowners have been left nursing losses of nearly $300,000 on properties […]
SYDNEY, June 28 (Reuters) – Outlandish property prices make daily headlines in Sydney – a peeling 1900s three-bed with no kitchen sink for A$2.6 million ($2 million), a parking space in Kirribili for A$120,000 – and first-time buyers have little prospect of relief. Home price growth in the harbour city is well into the double […]
The Australian real estate market is in the grip of the biggest housing bubble in the nation’s history and Melbourne will be at the epicentre of an historic “bloodbath” when it bursts, according to two housing economists. A bloodbath in the housing market, however, appears a near certainty due to the magnitude of falls required […]
